Implications of directors’ education for audit fees: does the audit committee matter?

IF 2.8 3区 管理学 Q2 BUSINESS, FINANCE
Sara Saggese, F. Sarto, R. Romano, Riccardo Viganò
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引用次数: 2

Abstract

Purpose Building upon multiple theories (i.e. agency, signalling and human capital), this paper aims to explore the effects of directors’ education on audit fees and to assess the mediating role of audit committee (AC). Design/methodology/approach The authors use an econometric analysis of Italian-listed non-financial firms during the period 2012–2015 using single-mediator models through ordinary least squares and logit regressions. Moreover, the authors apply the path analysis with the bootstrap method to test the mediating effect. Findings Findings show that the directors’ level of education improves audit fees. Additionally, the presence of an AC and the financial expertise of its members mediate this relationship. Practical implications By offering insights into the implications for audit pricing of the board and AC human capital, the paper helps regulators and policy-makers to understand which characteristic of such governance bodies improves auditing quality and the provision of better financial reporting. Originality/value The study uses a unique data set hand-collected from multiple sources and advances the auditing literature by shedding light on the reasons behind the influence of directors’ characteristics on audit fees and on the role played by the AC.
董事教育对审计费用的影响:审计委员会重要吗?
目的基于多种理论(即代理、信号和人力资本),本文旨在探讨董事教育对审计费用的影响,并评估审计委员会(AC)的中介作用。设计/方法/方法作者使用普通最小二乘法和logit回归的单中介模型对2012-2015年意大利上市非金融公司进行了计量经济分析。此外,作者将路径分析与bootstrap方法相结合来检验中介效应。调查结果显示,董事的教育水平提高了审计费用。此外,AC的存在及其成员的财务专业知识调解了这种关系。实际含义通过深入了解对董事会和AC人力资本审计定价的影响,本文有助于监管机构和决策者了解此类治理机构的哪些特征可以提高审计质量和提供更好的财务报告。独创性/价值该研究使用了从多个来源手工收集的独特数据集,并通过揭示董事特征对审计费用的影响背后的原因以及AC所扮演的角色来推进审计文献。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
5.40
自引率
13.80%
发文量
45
期刊介绍: The key areas addressed are: ■Audit and Assurance (financial and non-financial) ■Financial and Managerial Reporting ■Governance, controls, risks and ethics ■Organizational issues including firm cultures, performance and development In addition, the evaluation of changes occurring in the auditing profession, as well as the broader fields of accounting and assurance, are also explored. Debates concerning organizational performance and professional competence are also covered.
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